Healthcare insurer Aetna announced Monday that it would reduce its participation in Obamacare by more than two-thirds, after suffering a $200 million loss in the second quarter of this year, a loss caused by too many sick people signing up for President Obama's signature healthcare program.

"Providing affordable, high-quality health care options to consumers is not possible without a balanced risk pool," the company said in a statement. "Fifty-five percent of our individual on-exchange membership is new in 2016, and in the second quarter we saw individuals in need of high-cost care represent an even larger share of our on-exchange population."

This is the death spiral everyone warned us about. ObamaCare's rules and regulations are making insurance unworkable — and that's why more and more companies are pulling out and more and more consumers are left holding the bag.

We need everyone to understand that it's bad government policy — and particularly ObamaCare — that is the root cause of this problem. That's why healing our country's health care system and the insurance sector has to begin with repeal.

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